Asian Equities Decline Again on Global Growth Concern

Asian stocks fell for a fourth day after data signaled Chinese manufacturing shrank last month for the first time in more than two years and the U.S. economy grew less than forecast.

The MSCI Asia Pacific Index retreated 0.3 percent to 139.98 as of 9:01 a.m. in Tokyo, before markets opened in China and Hong Kong. The measure gained 1.8 percent in January, rebounding from two months of losses.

China’s official purchasing managers’ index showed an unexpected contraction, data at the weekend showed, boosting prospects Asia’s largest economy will add to stimulus amid a wave of global monetary easing. The U.S. economy expanded at a slower pace than forecast in the fourth quarter as cooling business investment, a slump in government outlays and a widening trade gap took some of the luster off the biggest gain in consumer spending in almost nine years.


Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at Visit to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.